Poppy Bank is headquartered in Santa Rosa and is the 31st largest bank in the state of California. It is also the 297th largest bank in the nation. It was established in 2005 and as of March of 2022, it had grown to 179 employees at 20 locations. Poppy Bank has a B+ health rating.
Savings Interest 1%
I have been Poppy Bank client for # of years. They advertise locally as a business bank, altho my savings & checking accounts are personal. My savings has been .5%, but when I went in to branch last week & asked if they were going to raise it- they did. It's now 1%.
Not sure if based on balance, but worth research, especially for those in area of branches.
I see comments about poor phone & online service. Branch service has always been A+. No problems with my online or app, altho they did lower max mobile deposits recently.
Not Worth The Frustration
there's always a reason a Podunk bank offers an above average rate. The opening process for an account is tedious with Poppy asking for far more personal info than necessary and required by gov't regs. Just tried to open a second cd and got so frustrated I took my business elsewhere.
VERY Bad Service----NONE
I called them 3 times and got no reply. You'd think they would at least call back and say they don't want to use our money. I even e mailed and got no reply.
Great Rate, But ...
After approval process, verifying trial deposits and $ withdrawn from external bank, the bank cancelled my CD and redeposited the funds. No calls / no emails. Apparently bank overwhelmed and mgmt cancelled the online CD applications as of 12/30.
Data as of Q1 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 57903 |
| Year Established | 2005 |
| Employees | 179 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 2.52% |
| Return on Equity - YTD | 29.45% |
| Annual Interest Income | $34.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2022vs Q1 2021 | $4.28B$3.46B |
| Loans | Q1 2022vs Q1 2021 | $2.54B$2.52B |
| Deposits | Q1 2022vs Q1 2021 | $3.69B$3.07B |
| Equity Capital | Q1 2022vs Q1 2021 | $369.4MM$273.8MM |
| Loan Loss Allowance | Q1 2022vs Q1 2021 | $87.0MM$90.9MM |
| Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $52.3MM$8.9MM |
| Real Estate Owned | Q1 2022vs Q1 2021 | $0$3.9MM |
